Ambani’s Jio Financial to hire StanChart executive Kusal Roy as CEO

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Ambani’s Jio Financial to hire StanChart executive Kusal Roy as CEO
Ambani’s Jio Financial to hire StanChart executive Kusal Roy as CEO

After leaving the UK lender, Kusal Roy will join Jio Finance Ltd., the non-banking finance division of Jio Financial Services Ltd., in the upcoming weeks, according to people who spoke to us on condition of anonymity because the information is confidential.

As it looks to establish itself in a country where credit demand is rising quickly, billionaire Mukesh Ambani’s new financial services company intends to appoint Standard Chartered Plc’s India national manager as the chief executive officer of one of its businesses, according to individuals familiar with the situation.

After leaving the UK lender, Kusal Roy will join Jio Finance Ltd., the non-banking finance division of Jio Financial Services Ltd., in the upcoming weeks, according to people who spoke to us on condition of anonymity because the information is confidential. Jio Finance said that after Roy joins the company, it will file for regulatory approval to name him CEO.

Talent has been sought after by Jio Financial as it grows its portfolio of services. KV Kamath was chosen as a senior appointment to serve as Jio Financial’s non-executive chairman prior to the company’s separation from Ambani’s main business, Reliance Industries Ltd. Additionally, the company brought on State Bank of India’s Charanjit Attra as its chief operational officer.

Roy’s LinkedIn page states that he supervised corporate, private, and consumer banking at StanChart, where he joined four years ago.

Reliance Industries’ spokesperson declined to provide a statement.

For the quarter ending in March, the company reported net income of 3.11 billion rupees ($37 million), an increase of more than 5% over the same period the previous year.

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